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stock recommendation, stock market recommendation
Begin part 3 of 3
THE PLAYS
Good movers: RNWK; SHOO; CBK
Wednesday night play results:
ALXN: Continued the test on lower volume.
OSIS: Holding the 200 day SMA and still set to move
SPIL: Tested the 18 day EMA on strong volume but rebounded
TWGP: Holding the 50 day EMA, still setting up to move
New Plays:
Upside:
Play Date: 08/31/2006
AEM (Agnico-Eagel Mines--$37.75; +2.43; optionable): Gold
http://biz.yahoo.com/p/a/aem.html
STATUS: Cup w/handle. One of the higher rated gold stocks in terms of earnings, and it has formed a nice base as well, a 15 week job formed over the 50 day EMA (34.88). It is coming off the test of the 50 day, showing good volume Tuesday and then again Thursday as AEM benefited from the GG buyout of GLG. That got the whole sector heated up. Looking for a breakout above the handle high at 38 to move in.
Volume: 2.286M Avg Volume: 1.907M
BUY POINT: $38.05 Volume=2.5M Target=$43.95 Stop=$35.94
POSITION: AEM AG - Jan. $35c (58 delta) &/or Stock
http://www.investmenthouse.com/cd/aem.html
Play Date: 08/31/2006
ARTC (Arthrocare--$45.61; 0.00; optionable): Medical appliances
http://biz.yahoo.com/p/a/artc.html
STATUS: Double bottom w/handle. Strong money flow is leading higher as ARTC forms the handle to its 16 week base, holding near support at the 10 day EMA (45.41) as it does. Got a bit wild two weeks back, but it rallied back immediately to hold the pattern. Very solid pattern and capable of strong moves. Good sector to be in as well as market heads toward a more uncertain couple of months.
Volume: 267.847K Avg Volume: 316.906K
BUY POINT: $46.59 Volume=400K Target=$52.50 Stop=$45.00
POSITION: ARU LI - Dec. $45c (52 delta) &/or Stock
http://www.investmenthouse.com/cd/artc.html
Play Date: 08/31/2006
TIVO (Tivo--$8.25; +0.59; optionable): Cable TV boxes, etc.
http://biz.yahoo.com/p/t/tivo.html
STATUS: Double bottom w/handle breakout. We looked at TIVO and looked again; then we looked again and it broke out Thursday on strong volume, moving out of its 18 week base that formed using the 200 day SMA (6.44) as support for the legs. Money flow is surging higher, leading the way for price. Very nicely formed base, and one thing we have seen of late: nice bases are breaking higher regardless of the stock's name. Looking to step in as it continues higher and ride it as far as it will take us.
Volume: 5.818M Avg Volume: 1.859M
BUY POINT: $8.38 Volume=2M Target=$10.12 Stop=$7.79
POSITION: TUK KU - Nov. $7.50c (67 delta) &/or Stock
http://www.investmenthouse.com/cd/tivo.html
Downside:
Play Date: 08/31/2006
BP (British Petroleum (BP)--$68.05; +0.23; optionable): Major oil
http://biz.yahoo.com/p/b/bp.html
STATUS: Head and shoulders. BP tumbled last week and then bottomed out Tuesday, bouncing back Wednesday and Thursday to test the 10 day EMA (68.54) and the neckline in its 8 week head and shoulders base. Money flow is heading lower. After this test we are looking for BP to continue lower. A move to the target lands a 40%ish gain.
Volume: 5.33M Avg Volume: 3.638M
BUY POINT: $67.93 Volume=3.5M Target=$65.90 Stop=$68.55
POSITION: BP VN - Oct. $70p (-58 delta)
http://www.investmenthouse.com/cd/bp.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
AAPL, AKAM, CCJ, CELG, FLR, GME, MGPI, MRVL, NVDA, SGMS, WM
AAPL: Working laterally over the 200 day SMA, recovering from the battery issues.
CCJ: Looks as if it has made the recovery, coming off the 200 day SMA on strong, above average volume in its 18 week base.
CELG: Double bottom attempt has failed.
WM: Freefalling.
Good Investing!
Jon L. Johnson and The Daily Staff
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners of Online Investment Services, LP or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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stock recommendation
stock market recommendation
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